Can you deduct the tree removal too?

Is tree removal from a shop deductible? What about the trees that fell in our yard, is the removal of those deductible?

If the stumps are there because of a storm and not just because you decided to remove the tree(s), yes.

If the shop is for a business, you would include the casualty loss, including the tree/stump removal, with your business expenses prorating as necessary if it's your designated home office.

Basically trees and stumps clean up, damage, removal, count as casualty loss if they were the result of a storm, accident etc but are not deductible if you just want to remove the tree.

how do value the loss of the tree?

Storm damage is considered a casualty loss.

Here's how to enter a casualty loss

• Go to the Federal Taxes
• Deductions and Credits
• Click “I’ll choose what I work on”
• Scroll down to Deductions and Credits, 
• Click start across from Casualties and Thefts

 

A personal Casualty loss is first reported on Form 4684 (Casualties and Thefts).  Personal losses are subject to a $100 subtraction (Line 11) and a subtraction of 10% of your Adjusted Gross Income ( Line 17) on Form 4684 because it is a personal loss.  Your loss amount then goes to line 20 of  your Itemized Deductions Schedule A 

 

If your standard deduction is higher than your Schedule A  (Itemized deductions), you will use the standard deduction and no additional loss will be allowed  TurboTax will default to the higher deduction

 

This year the standard deduction for :

• Single  or Married Filing Separate - $6,300
• Married Filing Jointly or Qualifying Widow(er) - $12,600
• Head of Household - $9,250

I want to enter the tree removal fee for huge eucalyptus fall due to a storm ($2500).  Insurance paid zero.  I went to "Casualties and Thefts" but I still cannot see how to enter this correctly.  It wants a cost basis, the closest thing i can think to do is value the tree at $2500 before the storm and $0 after since the casualty cost $2500, but it seems like their should be a better way....???